🏛️ Government · U.S. Virgin Islands
SBA set June deadlines for Virgin Islands working-capital disaster loans tied to Irma and Maria
The U.S. Small Business Administration said on May 7, 2018, that working-capital disaster loans remained available in the Virgin Islands for small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations affected by Hurricanes Irma and Maria.
The agency said the filing deadline for economic injury applications was June 7, 2018, for Hurricane Irma and June 20, 2018, for Hurricane Maria.
The SBA said working-capital disaster loans of up to $2 million were available at 3.305 percent for small businesses and 2.5 percent for private nonprofit organizations, with terms of up to 30 years. The loans were intended to cover fixed debts, payroll, accounts payable and other expenses that could have been paid if the disasters had not occurred.
SBA representatives were available at Disaster Loan Outreach Centers on St. Croix, St. John and St. Thomas to provide information, answer questions and help applicants complete loan applications. The centers operated Monday through Friday from 8 a.m. to 5 p.m. and Saturday from 9 a.m. to 2 p.m., except for the Small Business Development Center at the University of the Virgin Islands on St. Thomas, which was open Monday through Friday only.
Applications could also be submitted online through the SBA disaster loan website, by phone through the agency's customer service center, or by mail to the SBA's Processing and Disbursement Center in Fort Worth, Texas.